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Covalis Capital Portfolio holdings

AUM $1.63B
1-Year Est. Return 27.84%
This Fund
S&P 500
This Quarter Est. Return
+4.15%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$262M
AUM Growth
+$44.3M
Cap. Flow
+$66.2M
Cap. Flow %
25.28%
Top 10 Hldgs %
99.57%
Holding
23
New
10
Increased
1
Reduced
–
Closed
12

Top Buys

Rank Stock Value
1
PCG icon
PG&E
PCG
+$92.1M
2
EIX icon
Edison International
EIX
+$83.3M
3
EVRG icon
Evergy
EVRG
+$53M
4
CXO
CONCHO RESOURCES INC.
CXO
+$17.6M
5
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$11.1M

Top Sells

Rank Stock Value
1
TGE
Tallgrass Energy, LP Class A Shares
TGE
+$88.1M
2
PPL
PPL Corp
PPL
+$37.5M
3
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$36.6M
4
FE icon
FirstEnergy
FE
+$20.6M
5
ACM icon
Aecom
ACM
+$9.69M

Sector Composition

Rank Sector Weight
1 Utilities 79.42%
2 Energy 7.65%
3 Industrials 3.06%
4 Materials 0.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EIX icon
1
Edison International
EIX
$30.3B
$78.7M 30.05%
+1,448,404
New +$83.3M
PCG icon
2
PG&E
PCG
$39B
$75M 28.65%
+8,455,163
New +$92.1M
EVRG icon
3
Evergy
EVRG
$19.4B
$53.1M 20.29%
+895,616
New +$53M
CXO
4
DELISTED
CONCHO RESOURCES INC.
CXO
$16.4M 6.28%
+319,023
New +$17.6M
RDS.B
5
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$11.9M 4.53%
389,735
+340,507
+692% +$11.1M
PXD
6
DELISTED
Pioneer Natural Resource Co.
PXD
$8.15M 3.11%
+83,378
New +$7.35M
OTIS icon
7
Otis Worldwide
OTIS
$27.9B
$8.01M 3.06%
+140,892
New +$7.3M
HYG icon
8
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$5.45M 2.08%
+66,782
New +$5.38M
VALE icon
9
Vale
VALE
$62.3B
$2.48M 0.95%
+240,615
New +$2.2M
BIL icon
10
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
$1.5M 0.57%
+16,386
New +$1.5M
UGI icon
11
UGI
UGI
$7.87B
$1.13M 0.43%
+35,376
New +$1.07M
ACM icon
12
Aecom
ACM
$9.46B
– –
-324,585
Closed -$9.69M
CIG icon
13
CEMIG Preferred Shares
CIG
$6.06B
– –
-3,946,400
Closed -$3.42M
CTRA
14
DELISTED
Coterra Energy
CTRA
– –
-192,043
Closed -$3.3M
FE icon
15
FirstEnergy
FE
$28.4B
– –
-513,130
Closed -$20.6M
B
16
Barrick Mining
B
$60.9B
– –
-332,533
Closed -$6.09M
NEM icon
17
Newmont
NEM
$96.2B
– –
-59,694
Closed -$2.7M
PPL
18
PPL Corp
PPL
$26.9B
– –
-1,520,157
Closed -$37.5M
XLU icon
19
State Street Utilities Select Sector SPDR ETF
XLU
$23.1B
– –
-1,322,214
Closed -$36.6M
XOM icon
20
ExxonMobil
XOM
$650B
– –
-67,383
Closed -$2.56M
ENIA
21
DELISTED
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
– –
-712,282
Closed -$4.32M
ENBL
22
DELISTED
ENABLE MIDSTREAM PARTNERS, LP
ENBL
– –
-368,525
Closed -$948K
TGE
23
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
– –
-5,355,235
Closed -$88.1M

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SFG
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PRA
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SC
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SWA
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AIP
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KCM
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PCM
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Covalis Capital's Q2 2020 Portfolio in Review

As of Q2 2020, Covalis Capital held 23 positions worth $262M, up 20% from $217M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Covalis Capital deployed $66.2M of net new capital in Q2 2020, opening 10 new positions and adding to 1 existing holding. Its largest new stake was PG&E: 8,455,163 shares worth $75M.

By sector, the portfolio is most concentrated in Utilities at 79% of assets, up from 30% a quarter earlier, followed by Energy and Industrials.

On the sell side, the most notable exit was Tallgrass Energy, LP Class A Shares, an estimated $88.1M sold.

  • Covalis Capital's largest Q2 2020 buy was PG&E: 8,455,163 shares worth $75M.
  • Covalis Capital added most to Royal Dutch Shell PLC ADS Class B in Q2 2020, an estimated $11.1M increase.
  • Covalis Capital fully exited Tallgrass Energy, LP Class A Shares in Q2 2020, selling an estimated $88.1M.
  • Covalis Capital's ten largest holdings make up 100% of its $262M portfolio in Q2 2020.
  • Covalis Capital opened 10 new positions and closed 12 in Q2 2020.
  • Covalis Capital's portfolio value rose 20% quarter-over-quarter to $262M.

Based on Covalis Capital's 13F filing for Q2 2020, filed 14 Aug 2020.